lost need help

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hopless

Newbie
May 26, 2015
7
0
0
Sorry new to this forum... I am sure this post is in the wring place too.

I need help !

i filed for divorce husband response is to cash out 401K and buy house in DR. How can I can find what he bought.
We have court in like month and it just came out today that he cashed in over 200,000.00 to avoid having to
divide. Funny to some yes, but not to the other half. We struggled through our 22 year marriage and now this.

Anyone can help please do so

much thanks
 
W

windeguy

Platinum
Jul 10, 2004
42,211
5,969
113
How are you certain he bought property in the DR?

If he did buy property here with that money, you are unlikely to see that money even if you find where the property is located. It is easy to buy here and hard to sell.
 
R

ROLLOUT

Silver
Jan 30, 2012
2,198
35
48
Surprised that he was able to cash out 401k without spousal consent. This the exact reason that I'm waiting for my divorce to be finalized.
How did you come to find out that he cashed out 200k? Something's fishy here.
 
H

hopless

Newbie
May 26, 2015
7
0
0
Thank you for your quick reply. I understand he spend it and that selling it to recover woukd be extremely difficult.

How I know he cashed it out? I called BOA 401K dept and asked. As I am listed as spouse AND have a power of attorney for
Living will which covers banking, it was very easy to discover the looting of our account. As you may know that when divorce
Filed both people are " supposed " not do this kinda thing. I knew about the 401K as we both had less money as we were
Putting it away for out retirement. I am not trying to make the property be sold. I just am looking to prove he bought it. This
Will allow him not to state he blew it gambling etc... If he has an asset bought with " our " money then I have chance to recover it through other avenues - like the equity in out current home etc .

Does anyone know how to locate proprieties in the DR through names etc? It would have been purchased around September
Through October ? I can clearly see the withdraw - disbursement - but can't find a deposit to match and no one is going to go to amsott and cash a cheque for 89,347.67.
 
D

dulce

Silver
Jan 1, 2002
2,524
211
63
This needs to be in the legal section.
What country are getting the divorce in/lived in?
Taking money out of a retirement account is considered stealing marital assets. All money and assets get divided during the divorce process.
You need a lawyer.
 
H

hopless

Newbie
May 26, 2015
7
0
0
I am 47 years old now and it's just total BS and shameful. Kids are grown it's just me and now this....

He must think it's a joke and he is crazy like mid life crisis. 200K spent 5 dispurments, one for the 89.347.67 the other 4
smaller and I know where they went etc but not this one. He started going to the DR about 2 years ago with a friend of his
they said they were going fishing - I knew better. But this ! This is just to much

Anything anyone knows would be great !
 
Tamborista

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
113
hopless said:
I am 47 years old now and it's just total BS and shameful. Kids are grown it's just me and now this....

He must think it's a joke and he is crazy like mid life crisis. 200K spent 5 dispurments, one for the 89.347.67 the other 4
smaller and I know where they went etc but not this one. He started going to the DR about 2 years ago with a friend of his
they said they were going fishing - I knew better. But this ! This is just to much

Anything anyone knows would be great !
Click to expand...

GET a lawyer, and don't air all of your personal laundry on here, he very well may have friends on here or is reading this himself if he is "fishing" in DR.
 
H

hopless

Newbie
May 26, 2015
7
0
0
Yes have lawyer. Just looking to see if it's possible to locate a property under a name in the DR.

That's all
 
keepcoming

keepcoming

Moderator - Living & General Stuff
May 25, 2011
4,775
2,541
113
Yes ask questions here but keep the "personal issues" at the very minimum (or rather none at all). I assume BOA is Bank of America? I find it strange he was able to do this. I cashed out one of my 401k's and they(Bank of America) would not do it without both signatures. Agree get a lawyer and do not discuss the situation publicly ( on a pubic forum). Oh and make sure your not responsible for any taxes on his payouts (if legal). Good luck.
 
C

chic

Silver
Nov 20, 2013
4,305
1
0
ricky11 said:
you said he cashed out which means that the 200,000 was the total in the account--correct?
per federal law pertaining to taking money from a 401k, the plan administrator is required to withhold 20% for federal tax and possibly state tax (depending on which state you live in) but lets assume no state tax was withheld. 40,000 was withheld for fed. tax so he only received 160,000 and when he files his taxes for next year, (if he does) he will owe approx. another 40,000, so what ever you do, if he comes to you and asks for you to sign a joint return--refuse. if you work and have to file, file as married seperately.
hope this helps a little.
Click to expand...

keep this advice....sounds like a few stories ive heard before about actually selling a business and not a 401
 
hammerdown

hammerdown

Bronze
Apr 29, 2005
1,466
107
63
Unfortunately, I think you're screwed......If he was trying to hide the fact he bought something here most real estate sales people and/or lawyers would have him buy under a company and you would never be able to track or find the purchase..... sorry but I think he pulled one over you.....

My thoughts not yours.....
 
L

LTSteve

Gold
Jul 9, 2010
5,449
23
38
hopless said:
Sorry new to this forum... I am sure this post is in the wring place too.

I need help !

i filed for divorce husband response is to cash out 401K and buy house in DR. How can I can find what he bought.
We have court in like month and it just came out today that he cashed in over 200,000.00 to avoid having to
divide. Funny to some yes, but not to the other half. We struggled through our 22 year marriage and now this.

Anyone can help please do so

much thanks
Click to expand...

Are you citizens of the DR or US. The 401K should be divided property. Take him to court and force the judge to pay you your fair share. Are the proceedings in the US or DR. If you filed for divorce and he than cashed out the 401k than you are entitled to half and also probably half of the tax burden if you are filing jointly in the past. Get a lawyer and I mean fast and enforce your rights.
 
W

windeguy

Platinum
Jul 10, 2004
42,211
5,969
113
I do not think you can easily find out what he bought in the DR. No easy way to do this at all. Best option you have is to take legal action in your home company based upon proof of his withdrawals.
 
H

HUG

Silver
Feb 3, 2009
3,940
1
0
Doesn't add up. Sounds very much like you were in a relationship that has come to an end and you are preparing to see what you can try to hit him for. If you were together 22 years and had grown kids together you would be much better informed and aware of the banking situation. You're never going to find out what he doesn't want you tounder these circumstances.
 
C

ctrob

Silver
Nov 9, 2006
5,591
781
113
hopless said:
Yes have lawyer. Just looking to see if it's possible to locate a property under a name in the DR.

That's all
Click to expand...

How do you know he bought a house? What makes you think he's not just renting something?

Just thinking out loud - If you could figure out what town he stayed in or airport he flew into when fishing, that would be a start. If it was always the same town/hotel/etc you would at least have a clue as to where to start looking.
 
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